Bank of New York Mellon Corp Has $1.03 Billion Stake in BlackRock (NYSE:BLK)

Bank of New York Mellon Corp decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,093,293 shares of the asset manager's stock after selling 9,350 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of BlackRock worth $1,034,781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock worth $67,038,000 after acquiring an additional 4,210 shares during the period. Polar Capital Holdings Plc acquired a new stake in BlackRock during the fourth quarter worth about $15,307,000. Community Financial Services Group LLC raised its stake in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after acquiring an additional 836 shares during the period. Kennedy Investment Group acquired a new stake in BlackRock during the first quarter worth about $568,000. Finally, 3Chopt Investment Partners LLC acquired a new stake in BlackRock during the first quarter worth about $578,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the topic of several research reports. UBS Group dropped their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Bank of America decreased their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Barclays lifted their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. The Goldman Sachs Group increased their price target on BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and an average price target of $1,110.92.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Price Performance

Shares of NYSE BLK traded up $5.71 during mid-day trading on Friday, reaching $1,076.28. 342,684 shares of the company traded hands, compared to its average volume of 696,095. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The firm has a market cap of $166.75 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41. The stock has a fifty day simple moving average of $979.68 and a 200-day simple moving average of $969.29.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $9.81 earnings per share. Equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is 50.63%.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.